USD/CAD looks bearish. It recently completed an ABC correction (some would call it a Gartley) after respecting a falling resistance. All signs point to bears being in control of this market. $USDCAD Daily Chart(click to enlarge)Bearish Signs:- The momentum is essentially sideways in the daily chart as the RSI swings back and forth above 70 and below 30. - But the overall highs and lows show a bearish trend. - If the pattern since 2016 continues, price should be able to revisit the 2017 lows after the current downswing develops. - As price tests the 200-day simple moving average (SMA) around 1.2650, we can anticipate a rebound.- If there is indeed a bounce, a hold below 1.28 would support the bearish continuation outlook.